MeetingMetrics, a company that has been making tools to measure the value of events for nearly 20 years, is in the process of rolling out a new service aimed at conference and event attendees. MyROI, as it's called, is all about calculating the return on investment at the attendee level, for all who opt in.
That functionality was already available within the MeetingMetrics platform -- you may have noticed MPI touting it at last year's World Education Conference -- but MeetingMetrics has decided to roll it out now as a turnkey solution for associations, trade shows or educational program sponsors who want to offer this functionality to their attendees.
The process itself is pretty straightforward. All attendees who register for MyROI receive e-mailed notification to complete an online survey about three months following the event. Why so long afterwards? The survey is measuring the return on investment in the event, so what's important isn't the attendees' immediate impressions, but rather how they've put the information and experience to use in the following months. After survey responses are collected and calculated, each participating attendee receives a confidential 12-page report that details their return on investment, as well as how their experience compares to that of their peers, in aggregate. The conference organizer or sponsor receives a detailed report that rolls up the overall attendee experience (without revealing any individual's data) -- which could serve as valuable marketing fodder for future events, as well as detailed feedback about where improvement is most needed.
What's more, the service is a revenue generator for the conference organizer. Those who have registered for next month's MPI World Education Congress may have noticed the option to sign up for the MyROI service as an add on, for an extra $25. For future shows MeetingMetrics will likely offer another pricing model as well, by which the meeting organizer builds the charge into the registration fee. In either case the revenue is shared between the organizer and MeetingMetrics.
MeetingMetrics is also working with another industry association on a rollout of the service, according to managing director Ira Kerns, and has seen significant interest from others.